WB dislikes avoid real estate. Should you?

Think and act on the way to riches/millions

In one of their talks WB mentioned that he dislikes investment in real estate:

     1.   Negotitations can take long and there could be many issues:   inheritance, taxes, lawsuits, 

           physical defect.

    2.  Its not a passive income source  You have to actually manage it:   pay rpt, have it surveyed, watch

         for encroachment

   3.  Its value could be altered dramatically due to natural disasters, sinkholes, volcanic eruption

   4.  The market is not very liquid unless there is bank financing.  

And for example commercial property is on the decline because of the WFH.   If the holder or lender is evaluating the value based on ROI (or income approach) the 50% vacant building is valued lesser and the banker may find out that he is under collateralized.  When the bank does, can foreclosure can  be far behind, or being poor?